Crypto Evening Briefing: Saudi Arabia’s $620B Wealth Fund Has Backed Crypto-Friendly VCs
Saudi Arabian wealth fund Sanabil now discloses its investments across the venture capital space, and many of them are into crypto.
Switzerland Planning Stablecoin and Live Wholesale CBDC Pilots
The Swiss National Bank (SNB) has revealed its Swiss payments vision, which includes exploring a private token backed by central bank reserves and a wholesale central bank digital currency (CBDC) on the SIX Digital Exchange (SDX) for a limited time. The SNB has already conducted various wholesale CBDC tests and plans to issue a real wholesale CBDC on the SDX as a settlement asset for tokenized securities transactions. The central bank is also exploring using private money as a settlement asset for tokenized transactions, which would be one-to-one backed by sight deposits at the central bank, with a comparable risk profile to central bank money. The SNB believes that integration and interoperability between payment systems, payment solutions, and different forms of money are crucial for a trustworthy payment system.
Switzerland Preparing Emergency Measures for UBS’ Takeover of Credit Suisse
Switzerland is preparing to use “emergency measures” to accelerate the takeover by UBS of Credit Suisse, in an effort to finalize the acquisition before "markets open on Monday."
Crypto Crash Fails to Deliver Death Blow to Swiss Ambitions: Report
Switzerland, as the self-styled ‘Crypto Nation’, hasn’t seen anything so spectacular, according to the latest research by Zug-based venture capital company CV VC.
Switzerland Digital Assets Regulations: Licensing, AML/KYC, Stablecoins, and the Travel Rule
Crypto assets fall within the definition of digital assets. Switzerland has a very favorable framework regarding digital assets.